EverBank is running a deal on their FreeNet Checking Account. You need a minimum deposit of $40,000. Yields range from 2.08% to 3.09% APY with a bonus rate of 3.76% offered for the first 3 months.  Accounts are FDIC insured up to $250,000.

National City Bank is running a FREE $150 bonus. You need to sign up for their checking account, link your account with direct deposit, and swipe your check card 10 times to qualify.

Offer expires Dec 31, 2008.

Chase is running a FREE $50 bonus for opening a checking account. You will need to follow the link above and enter your email to get details. Keep in mind that direct deposit is required to qualify for the bonus.

Offer Details

To qualify for the reward you must open a new Chase Checking(SM) account with a $100 minimum opening deposit of new money (money not currently held by Chase or its affiliates). Also, within 60 calendar days of account opening, you must initiate a monthly direct deposit such as payroll, pension or Social Security, or other government benefits. The reward will be deposited into your new account within 10 days after the initial direct deposit has posted to your account. Limit one personal checking account-related reward/premium per customer, per calendar year.

Step aside AMEX Centurion, VISA is entering the exclusive high net worth credit card business with their Black Card.

The perks?

• The card is constructed of CARBON GRAPHITE (compared to titanium alloy for the AMEX Centurion)
• 24 hour concierge
• Luxury gifts?
• Annual fee is $495, compared to $2500 for AMEX
• Only the top 1% of Americans will qualify for a card (fairly exclusive)

Leave a comment if you are approved for the card.

Dan at BankVibe found a free $50 deal at Bank of America. Basically, if you open a checking account with $100 minimum deposit, they will give you a $50 bonus.

Offer expires January 31, 2009.

I’ve been doing some digging on the Internet b/c I’ve been wondering where all this bailout money has gone. This is a little tricky because the Federal Reserve is a PRIVATE CORPORATION and therefore is NOT required by law to disclose their accounting.

Fortunately, this astute analysis by James Conrad sheds some light on what the Fed is up to:

In this case, the Fed gave banks cash for toxic defaulting mortgage bonds. Then, it took the same cash back by selling the banks new treasury bills just received from the U.S. Treasury. The Fed, in turn, bought these T-bills with the newly printed dollars. The banks, having gotten rid of toxic assets, were allowed to transfer private risk to the taxpayers. This process bolsters bank balance sheets by privatizing bank profits, and socializing bank losses.

Basically, the Fed is trading Treasury Bills for toxic derivatives and forcing banks to hoard cash and re-deposit their bailout money at the Fed. This serves to prop up T-Bill prices and prevent a crash of the US dollar, allowing the US Treasury raise money (by selling Treasury Bills) while paying very low interest rates.

Thankfully, the banks (so far) are NOT lending out the bailout money they’ve received. If they did, we would have hyperinflation since banks can lend out 10 times the cash they have on deposit at the Federal Reserve. This would drive up the overall money supply exponentially and send the US dollar crashing to ALL TIME LOWS.

The Takeaway Message
Foreign cash-rich superpowers like China (which is rumored to be diversifying into gold reserves) are getting sick and tired of financing further increases in America’s debt, so now the USA has to step in and borrow money from the Federal Reserve to finance their own debt. This is a VERY dangerous game (see monetizing the debt).

Treasury bills are being artificially propped up by Paulson and Bernanke’s cartel of bankers, and anyone buying them now is getting ripped off.

The question is, what is the end game plan? I don’t want to go into detail about this (b/c nobody is certain anyway), but my guess is that we will continue to experience deflation in the next few months as bank deleverage and credit dries up. However, the Fed will try to “fix” this deflation by opening the flood gates and allowing banks to start lending freely, sending the money supply skyrocketing and the US dollar to all time lows.

If you’ve read up on Bernanke’s academic history, you will know that he is a big fan of using inflation to fight off recessions / depressions. I forgot where I read this, but Bernanke once quipped that it is much easier to print money these days b/c the printing press has been replaced by the computer.

Profiting From Disaster
The one good thing I can see from this whole mess is that the US dollar will be artificially propped up in the short term due to: credit default swap settlements, investment redemptions, flight to safety, Federal Reserve policies, etc. This is a good opportunity to buy inflationary hedges like precious metals, or go on a shopping spree in Euro denominated countries like France. For example, the Japanese Yen is EXTREMELY strong against the US Dollar right now, and not surprisingly, I spotted dozens of fashionable Japanese tourists shopping on Rodeo Drive in Beverly Hills today.

Act fast, however, because chances are, this rally is only temporary and will likely head lower in the next few months.

END THE FED
Why does the US Treasury need to borrow money from the Federal Reserve? Why doesn’t the US Treasury issue currency themselves?

For instance, look at China. The Chinese government issues their own currency and their national banks are controlled by the government. Their banks act in the interest of the PEOPLE rather than for private profits. China and oil-rich nations in the UAE are now in the position to gobble up American corporations and properties for fire-sale prices.

The root of today’s credit crisis isn’t sub-prime mortgages (which the media has brainwashed the American Sheeple into thinking). It is the fact that America’s credit and currency are issued by a cartel of private, for-profit corporations operating under the guise of the Federal Reserve.

I think it is time for us to END THE FED.

This is an oldie, but goodie. E*TRADE has brought back their $25 bonus on their online 3.30% APY savings account.

$25 will be credited to your Complete Savings Account within 30 days of the account being funded with a minimum deposit of $1.

This is fairly hot deal, don’t miss out!

WTDirect has launched a winter promotion for their 3.06% APY online savings account. Not really the HOTTEST deal out there, but worth mentioning.

• OPEN a new account — use promotion code “WTG3DNC”
• LINK an existing bank account to your new WTDirect account during the application process.
• FUND your new WTDirect account by initiating an online transfer by 12/22/08.
• EARN your bonus — calculated by determining the average balance from 1/1/09 – 2/28/09.
• During that time, you will have 100% access to your funds.
• RECEIVE your cash bonus in mid-March. It will be deposited directly to your WTDirect account.

Hat tip to Patricia D. for writing in about E-LOAN’s 1-year CD. This is one of the best rates out there right now (I know, I just personally opened a 1-year CD during the weekend), and on top of that, they’re giving a free $25 bonus.

There is a $10,000 minimum deposit.

Enter the code “times25″ to take advantage of this offer.